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PMI: Services export boom may fizzle out amid global slump
Mint Bangalore
|June 05, 2025
Regaining confidence
Business momentum in India's services sector was steady in May. The seasonally adjusted HSBC India Services PMI Business Activity Index rose to 58.8 last month from 58.7 in April. A reading above 50 indicates expansion.
The key highlight was that the new exports orders sub-index for services rose to 57.6 in May from 55.4 in April. Survey participants saw one of the strongest improvements in international demand in 19-and-a-half years.
For manufacturers as well, new export orders rose in May at one of the strongest rates recorded in three years, driven by demand from Asia, Europe, the Middle East and the US. But here's a catch.
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